US finalizes $6.1 billion Micron chip-making subsidy

Visitors look at a memory wafer at a Micron Technology kiosk before the start of 'SemiconIndia 2023', India's annual semiconductor conference, in Gandhinagar, India, July 25, 2023. REUTERS/Amit Dave/File photo

WASHINGTON (Reuters) -The U.S. Commerce Department said on Tuesday it had finalized a $6.165 billion government subsidy for Micron Technology to produce semiconductors in New York and Idaho.

The funding will support Micron's long-term plan to invest around $100 billion in manufacturing in New York and $25 billion in Idaho and is one of the largest government awards to chip companies under the $52.7 billion 2022 CHIPS and Science Act.